Does more dunning necessarily mean lower DSO? Do past-due notices always result in payments? How many of the customers your team calls today would have paid even without an email?
The stakes are always high for the collections teams – and under pressure to deliver on expectations collectors often reach out without a ‘full-picture’ view of each and every customer. With 100s of customers assigned to each collector, a complete picture for each customer might seem like an unrealistic expectation. However, this ‘spray and pray’ approach results in sub-optimal collector actions – where critical accounts are neglected and customer experience is compromised. So what’s the solution?
Data has the answer. Best-in-class collections teams excel in identifying critical data sources across credit-to-cash processes which help them quickly build a 360 degree understanding of each account. This enables prioritization and results in effective dunning.
In this webinar, Elaine Nowak talks about the 7 essential data sources every collector should tap to build an optimally prioritized collector’s worklist. The webinar also focuses on how the technology of the future will make it incredibly easier for collectors to gain a 360-degree view of each customer with a single click – and to ensure that each invoice is paid in time!
HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.